SeaCrest Wealth Management LLC Sells 136 Shares of FedEx Co. (NYSE:FDX)

SeaCrest Wealth Management LLC reduced its stake in FedEx Co. (NYSE:FDX) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,144 shares of the shipping service provider’s stock after selling 136 shares during the period. SeaCrest Wealth Management LLC’s holdings in FedEx were worth $1,010,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of FedEx in the 4th quarter valued at $807,352,000. Raymond James Financial Inc. bought a new position in FedEx during the fourth quarter worth about $234,028,000. Dodge & Cox grew its stake in FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock valued at $3,907,568,000 after acquiring an additional 734,268 shares during the period. GAMMA Investing LLC increased its holdings in shares of FedEx by 18,202.1% in the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider’s stock worth $133,003,000 after acquiring an additional 542,605 shares in the last quarter. Finally, Capital Research Global Investors bought a new stake in shares of FedEx in the fourth quarter worth about $145,733,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on FDX shares. Bank of America dropped their target price on shares of FedEx from $272.00 to $270.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price objective on FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Cfra Research upgraded FedEx to a “hold” rating in a research note on Thursday, March 20th. Stifel Nicolaus decreased their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Barclays lowered their price objective on shares of FedEx from $350.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $295.33.

FedEx Price Performance

Shares of NYSE FDX opened at $219.96 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average price is $215.83 and its two-hundred day moving average price is $249.91. The company has a market cap of $52.70 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period in the previous year, the firm posted $3.86 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that FedEx Co. will post 19.14 EPS for the current year.

Insiders Place Their Bets

In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 8.87% of the company’s stock.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.